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Wheat Pit Sep '16 (WU16)

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Wheat (Pit) Futures Market News and Commentary

Wheat Bull Hit Speed Bump on Tuesday

The wheat complex fell into Turnaround Tuesday across the three exchanges. Chicago contracts were down 1 ½ to 14 ½ cents led by the front months.  Kansas City futures closed out with losses of 7 ¼ to 16 ¾ cents as may expired. MPLS spring wheat futures were fractionally to 5 cents in the red.

Monday afternoon’s NASS Crop Progress report tallied condition ratings down 4 points in KS, 3 points in OK, and 11 points in TX. Much of the SRW states saw some improvement, up 11 points in IL, 3 in IN, and OH unch. 

We will get actual yield updates this week with the Wheat Quality Council HRW Tour beginning today. The next 7 days is offering very limited precip for much of Western KS.

Japan is looking for 121,516 MT of wheat from the US, Canada, and Australia in their weekly ministry of ag tender, with 23,900 MT US specific. 

Jul 24 CBOT Wheat  closed at $6.72 1/2, down 14 1/2 cents,

Sep 24 CBOT Wheat  closed at $6.93 1/4, down 13 1/4 cents,

Jul 24 KCBT Whea... Read more

Contract Specifications

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Contract
Chicago Soft Red Winter Wheat [Pit]
Contract Size
5,000 bushels
Tick Size
1/4 cent per bushel ($12.50 per contract)
Trading Hours
8:30a.m. - 1:15p.m. CST
Exchange
CBOT
Point Value
$50
Margin/Maintenance
$1,430/1,300
First Notice Date
08/31/16
Expiration Date
09/14/16 (expired)

Seasonal Chart

Wheat Pit Sep '16
Average Price Chart for 5 Prior Pit Contracts
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
361-0 +4.36%
on 08/31/16
427-0 -11.77%
on 08/19/16
-45-6 (-10.83%)
since 08/12/16
3-Month
361-0 +4.36%
on 08/31/16
494-6 -23.85%
on 06/17/16
-121-0 (-24.31%)
since 06/14/16
52-Week
361-0 +4.36%
on 08/31/16
548-4 -31.31%
on 10/06/15
-150-4 (-28.54%)
since 09/14/15

More Wheat (Pit) Quotes

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Most Recent Stories

More News
Wheat Bull Hit Speed Bump on Tuesday

The wheat complex fell into Turnaround Tuesday across the three exchanges. Chicago contracts were down 1 ½ to 14 ½ cents led by the front months. Kansas City futures closed out with losses of 7 ¼ to...

ZWK24 : 657-0s (-1.98%)
ZWN24 : 672-4s (-2.11%)
KEK24 : 724-0s (unch)
KEN24 : 683-2s (-2.39%)
MWK24 : 729-2s (-2.11%)
Soybeans Drop on Tuesday

Soybean closed Turnaround Tuesday with contracts down 4 ½ to 7 ¼ cents. Soymeal futures were back up on the day, with gains of $2.80 to $6.10/ton. Soy Oil collapsed 131 to 184 points on the session....

ZMN24 : 373.3s (+1.86%)
ZLN24 : 43.40s (-3.88%)
ZSK24 : 1199-0s (-0.54%)
ZSPAUS.CM : 11.5168 (-0.41%)
ZSN24 : 1214-4s (-0.41%)
ZSX24 : 1205-0s (-0.60%)
ZSPX24US.CM : 11.4325 (-0.63%)
Corn Pulls Back on Tuesday

Corn futures ended the Tuesday session with contracts fractionally to 5 cents lower out to July ’25. Deferred contracts were steady to ¾ cent higher. USDA reported a large private export sale of 405,000...

ZCK24 : 453-6s (-1.04%)
ZCPAUS.CM : 4.4401 (-1.13%)
ZCN24 : 467-4s (-1.06%)
ZCZ24 : 491-0s (-0.41%)
ZCPZ24US.CM : 4.6175 (-0.43%)
Shootin' the Bull about Polar opposites

Polar opposites in the basis of fats and feeders.  In fats, it's $9.00 positive and in the feeders $14.00 negative.  How is buying feeder cattle futures at a premium and selling fat futures at a discount...

Corn Slipping Lower After Hitting 4-Month High Overnight

Corn futures are trading with fractional to 5 cent losses across most contracts on Tuesday, as May expires today. USDA reported a large private export sale of 405,000 MT of corn to Mexico via the daily...

ZCK24 : 453-6s (-1.04%)
ZCPAUS.CM : 4.4401 (-1.13%)
ZCN24 : 467-4s (-1.06%)
ZCZ24 : 491-0s (-0.41%)
ZCPZ24US.CM : 4.6175 (-0.43%)
Soybeans Pulled Lower by Bean Oil on Turnaround Tuesday

Soybean are down 5 to 7 cents across most nearby contracts on Turnaround Tuesday. Soymeal futures are up $5.80/ton. Soy Oil was is back 181 points lower. On Tuesday morning the White House issued an announcement...

ZMN24 : 373.3s (+1.86%)
ZLN24 : 43.40s (-3.88%)
ZSK24 : 1199-0s (-0.54%)
ZSPAUS.CM : 11.5168 (-0.41%)
ZSN24 : 1214-4s (-0.41%)
ZSX24 : 1205-0s (-0.60%)
ZSPX24US.CM : 11.4325 (-0.63%)
Wheat Falling Lower at Midday

The wheat complex is sparking a Turnaround Tuesday, as contracts are down across the three exchanges at midday. Chicago contracts are 11 to 18 cents lower most nearby contracts. Kansas City futures are...

ZWK24 : 657-0s (-1.98%)
ZWN24 : 672-4s (-2.11%)
KEK24 : 724-0s (unch)
KEN24 : 683-2s (-2.39%)
MWK24 : 729-2s (-2.11%)
Grains Mixed in the Early Morning Trade

Grain markets mixed in the overnight trade. These are the important levels we will be keeping an eye on through today’s trade.

US Economy: Is Consumerism Being Curbed?

A few key economic indicator markets seem to be telling us the consumerism that has underpinned the US economy could be waning.

SBUX : 75.63 (-0.72%)
KCK24 : 202.85s (+1.22%)
MCD : 270.66 (-0.24%)
Corn Up a Penny This Morning as Planting Pace Lags

Corn futures are trading 1 to 2 cents higher so far on Tuesday morning. They closed out the Monday session with contracts mixed. Front months were up fractionally to 2 ¾ cents on the day, with deferred...

ZCK24 : 453-6s (-1.04%)
ZCPAUS.CM : 4.4401 (-1.13%)
ZCN24 : 467-4s (-1.06%)
ZCZ24 : 491-0s (-0.41%)
ZCPZ24US.CM : 4.6175 (-0.43%)

Key Turning Points

3rd Resistance Point N/A
2nd Resistance Point 376-6
1st Resistance Point 376-6
Last Price 376-6s
1st Support Level 376-6
2nd Support Level 376-6
3rd Support Level N/A

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52-Week High 548-4
Fibonacci 61.8% 476-7
Fibonacci 50% 454-6
Fibonacci 38.2% 432-5
Last Price 376-6s
52-Week Low 361-0

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